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03/03/19 The first round of direct negotiation between Petrobras and Modec on the FPSO for Búzios V ended well. With no impasse and willing to seek a reasonable daily rate for both, the companies decided to continue with the talks, and the expectation is that until the end of March reach a consensus. After the... Continue Reading →
Petrobras' plan to accelerate the sale of mature land and shallow water fields may trigger a series of investments in these areas and in the supply chain of the oil and natural gas industry, according to experts and executives heard by Valor. The expectation is that the development of these fields, in the hands of... Continue Reading →
The worldwide offshore rig count for February 2019 increased by 6 units sequentially and by 59 units year-over-year, according to Thursday’s report by Baker Hughes, a GE company (BHGE). BHGE splits its rig counts into international and North America rig counts, which combined make the worldwide rig count. The international rig count for February 2019 was 1,027,... Continue Reading →
UK-based oil company Premier Oil reported a net profit in 2018 of $133.4 million, on the back of record production. Premier Oil, which in 2017 posted a loss of $253 million, said on Thursday it achieved record production of 80.5 kboepd in 2018, despite material asset sales. Premier’s production was boosted by new output from the... Continue Reading →
(Reuters) - Norway’s BW Offshore has won approval from Brazil’s antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday. Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake. “The transaction represents an opportunity for BW... Continue Reading →
U.S. oil major ExxonMobil has updated its growth plans and expects annual earnings potential to increase by more than 140 percent by 2025 from 2017 adjusted earnings, assuming an oil price of $60 per barrel and based on 2017 margins. “Given the success we experienced last year and the progress we’re making on our plans,... Continue Reading →
Exxon Mobil Corp expects its 2019 and 2020 capital expenditure to be between $63 billion and $65 billion, the U.S. oil major said on Wednesday. Exxon, which had forecast capital spending of $30 billion for 2019, has been under pressure from investors to rein in expenses as certain deals and large-scale projects continue to strain... Continue Reading →
Oil major BP and Enpro Subsea have executed a global frame agreement aimed at providing an enhanced subsea architecture and smart standardization using Enpro’s patented Flow Access Module (FAM) technology. Enpro Subsea said on Tuesday it had supplied the FAM technology to BP on the Kepler K3 project in the Gulf of Mexico, enabling project specific... Continue Reading →
DOF Subsea has been awarded various contracts, securing utilisation for vessels in the subsea IMR projects segment. The Atlantic region has been awarded a contract by the Norwegian Mapping Authority regarding Hydrographic services for the MAREANO 2019 program. The specialised survey and IMR vessel Geograph will be deployed on the project that is expected to... Continue Reading →
U.S. oil major Chevron expects significant cashflow growth and production boost over the next five years. Outlining its strategy on Tuesday, Chevron CEO Michael Wirth said: “Chevron is in an exceptional position to deliver industry-leading value to shareholders,” said Michael Wirth, Chevron’s chairman and chief executive officer. “Our advantaged portfolio is driving strong production growth... Continue Reading →
Brazil Energy Insight 